Free pension reviews, exotic investments and high-return financial products are among fraudulent offers constantly being pushed on older people, according to Citizens Advice.

Savers are being targeted repeatedly with bogus opportunities via a stream of cold calls, emails, texts and post, reports the group which runs the government's free Pension Wise guidance service.

As Citizens Advice issued its alert against scams, Pensions Minister Ros Altmann beseeched people not to fall for conmen trying to snatch their money in an article for This is Money today.

Stay alert: Dodge the investment sharks who are after your pension savings

'Scammers have so many ways of tempting you to part with your money, from investing in non-existent overseas property to promises of fantastic returns from fine wines. I’ve even heard reports of shady operations peddling car parking spaces in Dubai,' she writes.

This is Money and our sister titles Money Mail and Financial Mail on Sunday have often sounded the alarm on pension fraudsters and called for ministers and financial firms to help protect savers.

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Fraud experts say that a combination of new rules, investors looking for returns and pensioners withdrawing large sums of cash have created a potentially fertile hunting ground for conmen.

Citizens Advice says staff who deal with older people have noticed an emerging trend of investment scams targeting the cash sums they can release from their retirement pots following the pension freedom reforms.

COMMON SIGNS OF PENSION SCAMS

Citizens Advice says people should beware:

* Pension help for free: an offer of help with your pension, such as free review or help tracing a lost pension

* High rates of return: any promotion offering you a much higher rate of return than other investors

* Time pressure: if you are told you must give your details within a short time frame or sign paperwork from a courier

* Early access: an offer to help you access your pension before the age of 55.

Scams spotted include:

* Unspecified financial products: People are being asked by fraudsters to give them access to their pension pots in order to invest them into financial products offering high rates of return. However, the scammers were unable to explain what the investments might be.

* Free pension reviews: People are texted or cold-called with offers of a free pension review. The caller then asks to visit the person in their own home, bringing paperwork that would allow them to get access to their pension details.

Citizens Advice said one man responded to an internet ad for a free pension review, filled in his details, and was visited by someone claiming to be an independent financial adviser who couldn’t describe any investments.

* Investments for pension cash: People are approached with offers to invest their pension cash into exotic products such as property overseas or fine wines.

One investment scam featured two salesmen - one who visited the potential customer to get access to his pension details, and a second to encourage him to invest his pension and any other savings into property in South Africa, says Citizens Advice.

HOW TO AVOID SCAMS

Citizens Advice offers the following advice on dodging conmen:

* Never be rushed into making a decision

* Check if the company contacting you is regulated by the Financial Conduct Authority or The Pensions Regulator

Gillian Guy, chief executive of the group, says: 'Opportunistic fraudsters are finding new ways to go after people’s pension pots including offering free pension reviews and promising to invest in funds that don't necessarily exist.

'Pension and investment scams are particularly dangerous as they can destroy people’s entire pension pot, leaving them with little or no savings for retirement.

'We will be monitoring pension scams closely in order to track how they are evolving, and warn consumers what to look out for. If you’ve had an offer or signed up to a scheme you’re unsure about, contact Citizens Advice for support.'

In her article for This is Money, Altmann writes: I always get angry and upset whenever I hear how innocent people lose their pension to crooks as part of some elaborate scam.

'Often victims have spent years diligently saving so that they can enjoy their retirement, only to then be conned out of their cash by a smooth talking confidence trickster.'

She adds: 'To add insult to injury, you could then sometimes face a penalty charge for accessing your pension too early (you shouldn’t touch it before age 55), plus a hefty tax bill.'

A new official taskforce set up to combat fraud against older savers recently warned people to beware offers of a 'free pension review' because this is the kind of bait fraudsters use to allay their suspicions before swiping lifetime savings. Read Project Bloom's tips on how to avoid fraud here.